For IBM, Picture Looks Bright

Tech Firm Boosts Outlook for Year as Profit, Revenue Climb in Quarter

By

Shara Tibken

July 19, 2011

International Business Machines Corp. saw growth in all of its major businesses in the second quarter, a sign that companies continue to spend on technology even as they defer other investments such as hiring.

The technology bellwether's revenue rose 12%, with gains in its big software, hardware and services lines. While much of the increase came from favorable currency trends that made overseas sales more valuable in dollar terms,...